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The public bidding for Happy Forgings’ initial public offering (IPO) will begin on Tuesday, December 19. The forging company is charging between Rs 808 and 850 for each share. There is a set lot size of 17 equity shares. The last day of the IPO would be Thursday, December 21.

 

Happy Forgings is an Indian manufacturer that was founded in July 1979 and specializes in creating heavy forgings and highly accurate machined components. Three manufacturing facilities—two in Kanganwal and one in Dugri—are owned by Happy Forging in Ludhiana, Punjab.

Through its IPO, Happy Forgings hopes to raise a total of Rs 1,008.59 crore. In addition to the offer for sale of 71,59,920 shares made by investor India Business Excellence Fund and promoter Paritosh Kumar Garg (HUF), this would involve a new sale of shares valued at Rs 400 crore.

Prepaying outstanding debts and buying plant, machinery, and equipment will be done with the net proceeds from the initial public offering (IPO).

Crankshafts, front axle carriers, steering knuckles, differential housings, transmission parts, pinion shafts, suspension items, and valve bodies are just a few of the products that the company designs and produces. Serving industries in Brazil, Italy, Japan, Spain, Sweden, Thailand, Turkey, the United Kingdom, and the United States of America, it boasts a global customer base.

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